Pune,India, Sept. 26, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Concrete Cutting Market size was valued at USD 5.48 billion in 2022. The market is anticipated to grow from USD 5.67 billion in 2023 to USD 7.83 billion by 2030, exhibiting a CAGR of 4.7% over the estimated period. The rise can be credited to the increasing investments in infrastructure projects by private as well as government institutions. Fortune Business Insights™ provides this information in its research report, titled “Concrete Cutting Market, Forecast 2023-2030”.
Industry Development:
August 2022 – Husqvarna Group’s subsidiary Husqvarna Construction rolled out an Elite Chain C 20 concrete chainsaw. The solution can be deployed for road construction and cutting hard rock, stones, and bricks.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 4.7% |
| 2030 Value Projection | 7.83 billion |
| Base Year | 2022 |
| Concrete Cutting Market Size in 2022 | 5.48 billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 219 |
| Segments covered | By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Region |
Drivers and Restraints:
Surge in Market Value Owing to Increase in Infrastructure Activities
Concrete cutting market growth is being propelled by an upsurge in the construction of dams, roads, bridges, and urban and power infrastructure. The industry expansion is further supported by an increase in government investments in infrastructure projects.
However, the high cost associated with equipment procurement and maintenance may restrain market growth over the coming years.
COVID-19 Impact:
Market Expansion Was Affected Owing to Halt on Construction Activities during Coronavirus Pandemic
The pandemic led to the shutdown of construction-related activities. The period saw a decline in the net sales of several companies considering the issues in the supply chain. However, an upsurge in expenditure associated with construction activities helped the revival of product demand.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/concrete-cutting-market-104740
Report Coverage:
- It assimilates key market drivers and restraints.
- It profiles the rankings of key market players accordingly.
- It includes key market developments and information on different market segments.
- It provides a comprehensive market assessment.
- It assesses the COVID-19 pandemic’s impact on the market.
Concrete Cutting Market Segmentation Analysis:
Equipment Segment to Holds a Major Share Owing to Surge in Construction Activities
On the basis of product type, the market is segregated into attachment and equipment. The equipment segment holds a dominating share. The expansion is driven by an upsurge in the number of commercial and residential construction projects.
Excavator Segment to Register Notable Upsurge Driven by Rising Deployment in Commercial Projects
By attachment application, the market is fragmented into skin steer, wheel loader, and excavators. The excavator segment is estimated to register highest growth rate over the analysis period. The growth is on account of various features such as ability to break solid rock and high efficiency.
Less than 1 Ton Segment to Record Substantial Surge Considering Robust Portfolio of Manufacturing Companies
By payload capacity for attachment application, the market is fragmented into more than 20 tons, 15-20 ton, 5-15 ton, and less than 1 ton. The less than 1 ton segment is estimated to lead with the highest CAGR over the forecast period. The rise is propelled by the escalating adoption in multi-home building and residential constructions.
Refurbishment Segment to Emerge Prominent Driven by Rising Government Investment in New Projects
By end use vertical, the market is categorized into refurbishment and demolition. The refurbishment segment holds a major share in the market and is estimated to surge at an appreciable CAGR over the projected period. The surge is on account of escalating government investments in the construction of new commercial and residential buildings.
OEM Segment to Lead Propelled by Various Benefits of Concrete Cutting Equipment
On the basis of sales channel, the market is subdivided into aftermarket and OEM. The OEM segment is slated to register appreciable growth over the study period. The surge is propelled by various benefits such as faster operation, high dimensional tolerance, low noise level, accuracy cuts, and save time of operations,
Based on geography, the market for concrete cutting is fragmented into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights:
Asia Pacific to be the Prominent Region Impelled by Presence of Key Players
The Asia Pacific accounts for a dominating share in the global market. The concrete cutting market share in the region is expected to exhibit considerable expansion throughout the estimated period. The escalation is driven by rising investments in infrastructure development and increasing expenditure on demolition and new construction activities.
The North America concrete cutting market is expected to record substantial expansion over the estimated period. The surge is due to increasing investments focused on infrastructure development.
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Competitive Landscape:
Key Companies Enter Strategic Deals to Enhance Business Prospects
Pivotal players ink an array of strategic deals for strengthening their industry positions. These include merger agreements, collaborations, acquisitions, and partnerships. These initiatives are being undertaken for establishing a strong footing in the market for concrete cutting. Besides, for expanding product reach, several companies are participating in trade conferences.
A List of Key Manufacturers Operating in the Global Market:
- Abortech (Australia)
- Atlas Copco (Sweden)
- Cedima GmbH (Germany)
- Hilti Corporation (Liechtenstein)
- Husqvarna Group (Sweden)
- iQ Power Tools (U.S.)
- Makita Corporation (Japan)
- Stanley Black & Decker Inc (U.S.)
- Stihl Group (Germany)
- Tyrolit (Austria)
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Concrete Cutting Key Players Market Share/Ranking, 2022
- Global Concrete Cutting Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Product Type (USD)
- Equipment
- Handheld Cut-Off
- Walk-behind Push
- Attachment
- Hammer
- Concrete Saws
- Others (Drills, etc.)
- Equipment
- By Attachment Application (USD)
- Wheel Loader
- Compact Loader
- Mid-Size Loader
- Large Loader
- Skid Steer
- Small Frame
- Medium Frame
- Large Frame
- Excavators
- Wheel Loader
- By Payload Capacity for Attachment Application (USD)
- Less than 1 Ton
- 1-5 Ton
- 5-15 Ton
- 15-20 Ton
- More than 20 Ton
- By End Use Vertical (USD)
- Demolition
- Refurbishment
- By Sales Channel (USD)
- OEM
- Aftermarket
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Continued….
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